Australia to Enforce New Food Pricing Rules in Crackdown on Coles and Woolworths
A shopper browses the milk section of a Coles supermarket in Melbourne, Australia.
Photographer: Sarah Pannell/BloombergColes Group Ltd. and Woolworths Group Ltd., Australia’s dominant supermarket chains, are bracing for tougher oversight after the government moved to crack down on alleged price gouging.
New regulations banning excessive pricing of consumer goods in the Food and Grocery Code come into effect on July 1 and are meant to help “Australians get a better deal at the checkout” during a period of elevated living costs, Treasurer Jim Chalmers said Sunday.